BlackBerry maker Research In Motion (RIM) is facing an all time low. The value of RIM went below the book value which is less than the total value of their patents, property and other assets. This is viewed as a sign of lowered faith of investors.
The chief investment officer of Solaris Group LLC, Timothy Ghriskey, addressing RIM as a "wounded puppy" said in an interview, "They've been losing business, there have been operating technology problems. There isn't a lot of customer loyalty anymore," as reported (opens in new tab)by Bloomberg.
As per data compiled by Bloomberg, RIM dropped 2.9 percent to $18.37 which is less than the book value that is $18.92 per share at last quarter's end. Cash, real estate, inventories and intellectual property excluding their liabilities are components of any company's assets.
A decade ago, RIM took the initiative to create a sound market for smartphone with the first device with e-mail facility. At present, it is facing stiff competition from Apple and Google's Android run devices.
At a time of such crisis, major investors like Jaguar Financial Corp., have been suggesting RIM either split up, seek a merger or finally sell itself off.